Vodafone Group Plc
Financial Performance
Vodafone Revenue & Financials
Revenue
~$45.7B (FY2026)
Market Cap
$23B
Employees
85,000
What is Vodafone's revenue?
Vodafone had ~$45.7B in revenue for fiscal year 2026, up 8% from 2025. It reported a net loss of ~$448.6M.
- Latest revenue
- ~$45.7B (FY2026)
- Year-over-year
- +8%
- Growth rate (CAGR)
- -2.1% over 10 years
- Peak revenue
- ~$56.3B (FY2016)
- Years of data
- 11
- Employees
- 85,000
- How much profit does Vodafone make?
- Vodafone reported a net loss of ~$448.6M for fiscal year 2026. stockanalysis.com
- How many employees does Vodafone have?
- Vodafone has about 85,000 employees.
Financial Analysis
When Margherita Della Valle became CEO in 2023, Vodafone had high debt and a long run of weak returns. She sold Vodafone Spain and Vodafone Italy, used part of the proceeds for share buybacks and debt reduction, and merged the UK business with Three. In FY26 (year to 31 March 2026) total revenue rose 8.0% to ~$45.8 billion (€40.5 billion) from ~$42.3 billion (€37.4 billion), helped by consolidating VodafoneThree from 1 June 2025. Adjusted EBITDAaL was ~$12.9 billion (€11.4 billion) (4.5% organic growth) and adjusted free cash flow was about $2.94 billion (€2.6 billion). Operating profit was ~$3.16 billion (€2.8 billion), compared with a ~$452 million (€0.4 billion) operating loss in FY25, which had included large impairment charges.
Revenue Trend Analysis
YoY Change
+8%
10-Year CAGR
-2.1%
Peak Year
2016
Trend
Volatile
Vodafone Group Plc has 11 full fiscal year figures on this page, compounding at -2.1% annually over 10 years. The most recent year saw a 8% increase versus the prior year. Annual revenue peaked in fiscal year 2016 at ~$56.3B. Of 10 comparable year-over-year steps, 4 showed growth and 6 showed a decline.
Annual revenue history
Click any row to see year details.
Vodafone Group Plc balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 20-F, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Mar 31, 2025 | ~$17.4B | ~$4.9B | ~$145.2B | ~$59.6B | ~$12.5B | Form 20-F |
| FY2024ended Mar 31, 2024 | ~$18.7B | ~$4.8B | ~$163.1B | ~$67.8B | ~$13.9B | Form 20-F |
| FY2023ended Mar 31, 2023 | ~$20.4B | ~$5.6B | ~$175.7B | ~$71.6B | ~$14.8B | Form 20-F |
| FY2022ended Mar 31, 2022 | ~$20.4B | ~$5.1B | ~$174.1B | ~$61.9B | ~$15.3B | Form 20-F |
| FY2021ended Mar 31, 2021 | ~$19.5B | ~$6.1B | ~$175.2B | ~$63.1B | ~$13.3B | Form 20-F |
| FY2020ended Mar 31, 2020 | ~$19.6B | ~$5.9B | ~$190B | ~$69.4B | ~$13.8B | Form 20-F |
| FY2019ended Mar 31, 2019 | ~$14.7B | ~$5.7B | ~$161.4B | ~$70.3B | ~$9B | Form 20-F |
| FY2018ended Mar 31, 2018 | ~$15.4B | ~$5.6B | ~$164.5B | ~$76.4B | ~$9.8B | Form 20-F |
| FY2017ended Mar 31, 2017 | ~$16.1B | ~$7.1B | ~$174.8B | ~$81.6B | ~$9B | Form 20-F |
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Vodafone Revenue and Financial FAQ
What were Vodafone Group's total revenue and EBITDAaL for fiscal year 2026?
In FY26 (ended March 31, 2026), Vodafone reported total group revenue of €40.5 billion (~$45.8 billion USD), up 8.0% year-over-year, and adjusted EBITDAaL of €11.4 billion (~$12.9 billion USD), reflecting organic growth and the Three UK consolidation.
How much cash did Vodafone receive from the sales of its Spain and Italy divisions?
Vodafone received approximately €13 billion in net upfront cash from the sales of Vodafone Spain (€5.0B to Zegona) and Vodafone Italy (€8.0B to Swisscom), dramatically reshaping its financial structure.
How were the €13 billion divestiture proceeds allocated by management?
Proceeds were deployed into a €4.0 billion share buyback program to retire equity, multi-billion-euro debt reductions to restore credit metrics, and targeted network investments in Germany and the UK.
What is Vodafone's current net debt and balance sheet leverage?
Following the Italian and Spanish cash receipts, net debt dropped toward €24 billion to €26 billion, bringing net debt-to-EBITDAaL leverage comfortably within its target corridor of 2.5x to 2.8x.
What is Vodafone's dividend policy following the European portfolio restructuring?
Management rebased the ordinary dividend to a sustainable baseline of approximately 4.5 euro cents per share, establishing a lower payout that is fully covered by organic free cash flow.
How much adjusted free cash flow does Vodafone generate annually?
Vodafone generated €2.6 billion (~$2.94 billion USD) in adjusted free cash flow in FY26, supported by lower financing costs and capital discipline.
What percentage of group revenue is generated by Vodafone Germany?
Germany is Vodafone's single largest market, contributing approximately 30% to 32% of total group service revenue and roughly 45% of total adjusted EBITDAaL.
What is the financial scale of Vodacom Group in South Africa and Africa?
Vodacom generates over R150 billion (~$8.5B USD) in annual revenue, delivering high adjusted EBITDA margins (~37%) and generating robust dividend distributions back to parent Vodafone.
How does currency depreciation in Türkiye and Africa impact reported euro financials?
Severe currency devaluations of the Turkish lira and Egyptian pound create substantial foreign exchange translation headwinds, partially offset by inflation-linked domestic tariff price increases.
What is Vodafone's capital expenditure (CapEx) envelope?
Group capital additions (excluding spectrum licenses) stood at approximately €7.2 billion in FY26, directed toward fiber backhaul, cloud data centers, and 5G standalone core installations.
Where are Vodafone's shares traded and what is its dual-listing structure?
Vodafone's primary listing is on the London Stock Exchange (LSE: VOD), where it is a component of the FTSE 100, with American Depositary Receipts (ADRs) trading on NASDAQ under the symbol VOD.
What is Vodafone's forward financial outlook for fiscal 2027?
Management targets low-to-mid single-digit organic adjusted EBITDAaL growth and adjusted free cash flow of at least €2.8 billion to €3.0 billion as German broadband stabilizes and UK merger synergies materialize.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Vodafone Revenue & Financials." CorpDigest, https://corpdigest.com/company/vodafone/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Vodafone reported ~$45.7B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/vodafone/financials" target="_blank" rel="noopener">CorpDigest — Vodafone financials</a></div>Related Financial Audits
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